Compare 6 Month Payday Loans

Payday loans were traditionally designed to be taken over the full monthly period until that next pay check comes in. People can often run into problems this way when a large repayment is due that may lead to a chain of rollovers (or default). 6 month payday loans are an interesting alternative. An instalment 6 month payday loan spreads out the repayments that should devise a more manageable loan. Other than this, the lenders typically take a percentage of the monthly balance. This reduces the costs since the percentage is being taken from a decreasing balance. With rollovers, you would typically pay a charge of £30 (per £100) each month. The 30% of the balance figure that is shown below actually creates a 20% monthly rate (£20 per £100).

+ Best price for same day loan
+ They offer the most flexible terms. Whereby with Lending Stream £200 must be taken over 6 months, with Cash4UNow this £200 could be taken between 1 and 6 months
+ You can also repay early and interest can be saved, but you’ll have to contact their support for this
– Employer must be contacted and applicants must be 21 or above

Notes:
– Same day transfer fees are commonly taken away from the loan funds sent, but these have now been added towards “Total Charge” rather than deducted to avoid confusion.
– Oakam and Zebit also offer 6 month loans, but are best suited to shorter term durations and so will be covered in the 3 month comparison posting.
– Alternative comparison postings will also be made for the doorstep, guarantor and logbook lenders that cover extended terms like this.